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Saturday, October 1, 2022

PSBs privatization: Bank Unions hold dharna before Parliament

Date:

United Forum of Bank Unions (UFBU), representing the 9 bank unions on Thursday held a dharna before Parliament to protest against the moves of privatisation of Public Sector Banks (PSBs) by the Centre.

The nine bank unions are — AIBEA, AIBOC, NCBE, AIBOA BEFI, INBEF, INBOC, NOBW, NOBO. The dharna began at 11 am and will continue till 3 pm.

AIBEA General Secretary Ch Venkatachalam in a release on Thursday said: ‘We have decided that if the Central Government will bring any law to privatise the Banks during the current monsoon session of the parliament, then, there would be intensified and prolonged strikes in banks.’

He said these Nationalised Banks have to be further strengthened to serve the people. But the BJP-led NDA government has announced that Nationalised Banks will be privatised.

If Banks are privatised, rural banking will be affected. Private Banks will not encourage rural banking.

They will be interested in more profits only. Slowly only rich people will be encouraged to have accounts. Hence AIBEA is opposing the decision to privatise the Banks, Venkatachalam said.

He said we are undertaking a National campaign to educate the people to support our demand and collecting signatures from the people to submit a mass petition to the Prime Minister on the issue.

The AIBEA General Secretary said on July 13, Arvind Panagaria, former Vice-Chairman of Niti Aayog and Poonam Gupta of National Council of Applied Economic Research have submitted a report suggesting privatisation of all Banks because private banks are more efficient.

‘It is a vindictive and revengeful report against public sector Banks,’ he said.

The top union leader said they have completely forgotten that in our country so many private banks have collapsed due to inefficiency and Government Banks had to merge and rescue them.

They have forgotten that 90 per cent of bad loans are due from the big private corporate companies and 98 per cent of the Jan Dhan Yojana accounts have been opened by government banks and not by private Banks.

We demand the Modi government for rejection of this report, he said.

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